Tag: fibonacci resistance

A Buying Opportunity For Gold and Silver?

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Wednesday, the 20th of July.

Right after we had finished our 1 PM update, the President came on TV and indicated that the gang of six had come to some magical debt agreement.  That was all that was needed to rally the equity markets and push down the price of gold and silver.  Let me just say this, it's not a done deal until it's a done deal and I don't think this deal will get done.

The action in gold and silver today and the fact that they are both higher on the day right now, indicates that yesterday was probably a buying opportunity in both of these metals.

Let's just recap what has really happened.  Nothing has changed, we still have major, major debt problems ahead of us.  As I mentioned in yesterday's 1 PM update, I wanted to see how the markets closed for the day.  I think today is going to be even more important, as we are in the middle of the trading week and we still have the potential for a lot more news to come out.  Last week we closed at 1316 on the S&P 500 and for the month we closed around 1320.  We'll be watching to see if the S&P 500 will keep its upward momentum or have another push down to the 1300 level.

Now, let's go to the markets and see how we can protect and make your money grow in 2011.

Continue reading "A Buying Opportunity For Gold and Silver?" →

The Bulls Battled Back Today!

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday, the 19th of July.

The Bulls battled back today and forced many of the Bears to cover their short positions in the equity markets. However, nothing has changed, nothing has been resolved, and we still have the same unresolved debt problems.

Gold and silver continue to hold well and look to be purchased on pullbacks from current levels. Crude oil popped to the upside today and remains in a broad trading range with no clear-cut direction.

All in all it's been a pretty boring session so far on a Tuesday. What I really want to see is how these markets close today, and more importantly, how they close for the week. If we have a lower close for the week in the equity markets we would consider that to be an early sign of a potential bear market.

Now, let's go to the markets and see how we can protect and make your money grow in 2011.

Continue reading "The Bulls Battled Back Today!" →

I Was Thinking This Weekend...

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Monday, the 18th of July.

Well, Monday is here and we are no closer to solving the debt problem than we were last week. Europe is still a disaster and that's been reflected in the bank stocks today.

I was thinking this weekend... If everybody moved out of Greece, what would happen to the debt and who would pay it? I know it sounds weird to say, but the reality is with the euro zone you do have the freedom to work in other countries.

The world has changed, yet the politicians still think it's the same game. In the world of the Internet you can be based practically anywhere that's advantageous to you. In an example like Greece, which is so far underwater it seems they are never going to be able to bail themselves out... Why not just walk away from the debt? One could stand to reason that most well educated Greeks have the mobility and the language power to move to other countries in the euro zone and work.

Today's markets reflect what I was saying all last week in regards to the bank stocks which are under tremendous pressure today. BAC is down over 3% and other bank stocks don't look much better.

Gold and silver moved dramatically high today with gold topping the $1,600 an ounce level before some profit taking came in to the market. Silver is up close to 3% as I write this, and is moving higher and faster than gold percentage wise. So let's take a look at these markets in more detail and workout some target zones for gold and silver, as well as the banks.

Now, let's go to the markets and see how we can protect and make your money grow.

Continue reading "I Was Thinking This Weekend..." →

Will He Or Won't He Implement QE3?

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Thursday, the 14th of July.

Will he or won't he implement QE3?  That is the question on everyone's lips.  I am of course talking about the Federal Reserve chairman, Ben Bernanke.  I don't think it's going to matter too much because the market is acting exactly how we expected it to act.  The market action for the past three days has very negative connotations in my opinion.

The plain truth is the market has been unable to hold or sustain any rallies after its big down day on Monday.  I think tomorrow, being Friday, a lot of traders will be very nervous about holding long positions based on what may or may not happen with the debt ceiling over the weekend.

Gold and silver continue to move to the upside and are in strong hands.  This weekend could be the perfect weekend trade for these two markets.  Target zones are higher than current levels for both gold and silver.

Another concern we have are bank stocks, which continue to look weak.  Bank of America, symbol BAC, could be a perfect candidate for a 52 week rule trade on Friday.  Watch that stock carefully on Friday.

Now, let's go to the markets and see how we can protect and make your money grow.    Continue reading "Will He Or Won't He Implement QE3?" →

Record-High Prices For Gold!

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1pm market update for Wednesday, the 13th of July.

The big news today has got to be record-high prices for gold.  As you know we've been very positive on this market longer term and we believe that the market was going to make its highs at the end of Q3.  Today's action certainly confirms that this market is moving from a very powerful energy field, which we have explained in many of our previous videos.  Silver followed suit, but has not made an all time high.  Percentage wise today's move in silver is beating out the move in gold.

The rally in the equity markets is not as unexpected, as we thought that we would see a bump up as we described in our previous videos earlier this week. We expect that the current rally in the S&P will run out of steam right around 1333 to 1338.

We also suspect that this market is building the right shoulder of a massive head and shoulders top.  It seems hard to believe that the precious metals and the equity markets are all going up at the same time, but that's what's happening right now.

Now, let's see how we can protect and make your money grow.    Continue reading "Record-High Prices For Gold!" →